Advertising revenue in Australia’s largest radio market has fallen by nearly 10% for March this year as compared to March 2011.
A fall of 9.84% in Sydney meant a drop to $17.48m in revenue, according to the 2012 Metropolitan Commercial Radio Advertising Revenue report, published by Deloitte for the CRA.
Australia’s second largest radio ad market, Melbourne, fell by 4.2% to $16.88m for March.
Despite Adelaide, Brisbane and Perth seeing growth, as the two biggest metro markets in Australia fell it meant that the radio market shrunk by 3.41% overall, to a total of $57.3m.
Brisbane saw growth of 5.1% to $9.7m. Perth grew by 1.92% to $7.967m, while Adelaide grew just 0.04% to $5.29m.
Across the five metro markets, Sydney also saw the greatest drop over the past nine months, since the start of the financial year, by 2.76% to $155m.
The Perth market wavered, with a 0.42% drop to $68.4m.
It was better news for Adelaide, however, which saw the largest growth by 4.08% to $48m.
Melbourne and Brisbane were more modest with Melbourne growing by 0.25% to $153m and Brisbane growing by 0.55% to $82.6m for the past nine months.
Joan Warner, CEO of Commercial Radio Australia, said the figures reflect the overall uncertainty of trading conditions, particularly in Sydney.
She said: “The radio industry continues to show itself as a very resilient market in tough trading conditions, with some markets recording growth, but others more patchy results.”
The news of Sydney’s revenue drop follows a relatively stagnant ratings period in the first survey of the year.